Hovensa

Hovensa was a major oil refinery located on the island of St. Croix in the United States Virgin Islands. It was a joint venture between Hess Corporation and Petróleos de Venezuela, S.A. (PDVSA), the state-owned oil company of Venezuela. The name "Hovensa" was a portmanteau of "HO" from Hess Oil and "VENSA" from Venezuela, S.A.

The refinery had a significant capacity, capable of processing hundreds of thousands of barrels of crude oil per day, making it one of the largest in the Western Hemisphere at its peak. It primarily refined crude oil into gasoline, jet fuel, heating oil, and other petroleum products. These products were then distributed to markets in the United States and other parts of the world.

Hovensa faced increasing financial challenges in the late 2000s and early 2010s, largely due to declining demand for refined petroleum products in the United States, increasing competition from other refineries, and high operating costs. In 2012, Hovensa announced it would cease refining operations and transition into a petroleum storage terminal. The closure had a significant negative impact on the economy of St. Croix, resulting in substantial job losses and reduced government revenue.

The site was subsequently sold and is now operated as Limetree Bay Refining, but that entity filed for bankruptcy in 2021.